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Algorand is a carbon-neutral smart contract blockchain that uses a pure proof-of-stake (PPoS) consensus mechanism to facilitate low-cost, high-speed transactions. The platform aims to overcome some of the inefficiencies associated with legacy blockchains while minimizing the environmental impact of Web3 development.
Founded by MIT professor and Turing Award-winner Silvio Micali, Algorand is a blockchain protocol and cryptocurrency that aims to empower users by giving them access to borderless, decentralized financial services. With support from the Algorand Foundation, the Algorand protocol aims to solve the “blockchain trilemma” of being simultaneously decentralized, stable, and secure, by facilitating the next generation of equitable financial products. Powered by the native ALGO coin, the Algorand ecosystem is a thriving, diverse, and future-thinking project that uses a novel consensus mechanism to verify transactions on the Algorand blockchain.
